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Global Steel Wire Rope Market Analysis, Share, Forecast: By Type of Lay: Regular Lay, Lang Lay, Alternate Lay; By Strand Pattern: Single Layer, Filler Wire, Seals, Warrington, Combination; By Steel Type: Stainless Steel, Galvanized Steel; By Coating Type: Vinyl, Zinc, Others; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Steel Wire Rope Market Outlook
The global steel wire rope market attained a value of USD 9038 million in 2023. The market is projected to further grow at a CAGR of 3.4% between 2024 and 2032 to reach a value of USD 10991 million by 2032.
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The Asia Pacific to Emerge as a Significant Regional Market for the Steel Wire Rope Industry
The global steel wire rope industry is significantly being led by the Asia Pacific region. In the Asia Pacific, particularly in China, Indonesia, and India, both consumption and sales of steel wire ropes are extremely high. Healthy growth is expected to take place in the steel wire rope industry in Asian countries, including China, India, Indonesia, Thailand, and Malaysia. China has been experiencing considerable growth over the past decade in the steel wire rope industry, attributable to the growth in steel production as well as investments in infrastructure involving lifting and motion applications.
Globally, the steel wire rope market is being propelled forward by the oil and gas, marine, and mining industries. The mining sector is expected to experience a steady growth pattern over the forecast period. Steel wires manufacturers are expected to increasingly concentrate on economies that produce and import substantial steel.
Steel Wire Rope: Market Segmentation
Steel wire rope refers to a machinery commonly used for construction, mining, oil, and gas mining, among other fields. A steel wire rope is typically composed of wires, strands, and a core made of steel and fibre. The goal of the core is to sustain the external strands and preserve them as they function. The wires are primarily made of stainless steel and high carbon steel. The wires are twisted into strands.
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The type of lay can be divided into:
- Regular Lay
- Lang Lay
- Alternate Lay
The strand pattern of the product can be categorised as follows:
- Single Layer
- Filler Wire
- Seals
- Warrington
- Combination
The steel type can be divided into stainless steel and galvanized steel.
The coating type of the product can be divided into the following:
Steel wire rope finds wide applications in the following:
- Oil and Gas
- Heavy Machinery
- Mining
- Marine
- General Engineering
- Construction
- Others
The regional markets for steel wire rope can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Applications of Steel Wire Rope Bolstering the Market Growth
Due to the rising demand for steel wire rope from various industries like marine and fishery, industrial and crane, and mining industries, the steel wire rope industry is witnessing a healthy growth. Steel wire rope and plastic ropes are light, sturdy, low specific gravity, superior elasticity, resistant to corrosion, and has high moldability. These ropes have excellent resistance to impact, durability, high strength, abrasion, and corrosion resistance, which are their preferred features in these industries. These factors are expected to drive the market growth in the coming years.
Key Industry Players in the Global Steel Wire Rope Market
The report gives a detailed analysis of the following key players in the global steel wire rope market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cortland Limited
- Anchor Industries Pty Ltd
- Samson Rope Technologies, Inc.
- Chung Woo Rope Co. Ltd
- Teufelberger Holding AG
- Fasten Group
- Bekaert Group
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type of Lay, Strand Pattern, Steel Type, Coating Type, Application, Region |
| Breakup by Type of Lay | Regular Lay, Lang Lay, Alternate Lay |
| Breakup by Strand Pattern | Single Layer, Filler Wire, Seals, Warrington, Combination |
| Breakup by Steel Type | Stainless Steel, Galvanized Steel |
| Breakup by Coating Type | Vinyl, Zinc, Nylon, PVC, Others |
| Breakup by Application | Oil and Gas, Heavy Machinery, Mining, Marine, General Engineering, Construction, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, Teufelberger Holding AG, Fasten Group, Bekaert Group, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Steel Wire Rope Market Analysis
8.1 Key Industry Highlights
8.2 Global Steel Wire Rope Historical Market (2018-2023)
8.3 Global Steel Wire Rope Market Forecast (2024-2032)
8.4 Global Steel Wire Rope Market by Type of Lay
8.4.1 Regular Lay
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lang Lay
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Alternate Lay
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Steel Wire Rope Market by Strand Pattern
8.5.1 Single Layer
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Filler Wire
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Seals
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Warrington
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Combination
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.6 Global Steel Wire Rope Market by Steel Type
8.6.1 Stainless Steel
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Galvanized Steel
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Steel Wire Rope Market by Coating Type
8.7.1 Vinyl
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Zinc
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Nylon
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 PVC
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Steel Wire Rope Market by Application
8.8.1 Oil and Gas
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Heavy Machinery
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Mining
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Marine
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 General Engineering
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.6 Construction
8.8.6.1 Historical Trend (2018-2023)
8.8.6.2 Forecast Trend (2024-2032)
8.8.7 Others
8.9 Global Steel Wire Rope Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Steel Wire Rope Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Steel Wire Rope Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Steel Wire Rope Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Steel Wire Rope Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Steel Wire Rope Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Cortland Limited
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Anchor Industries Pty Ltd
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Samson Rope Technologies, Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Chung Woo Rope Co. Ltd
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Teufelberger Holding AG
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.5 Fasten Group
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Bekaert Group
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Others
18 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Steel Wire Rope Market: Key Industry Highlights, 2018 and 2032
2. Global Steel Wire Rope Historical Market: Breakup by Type of Lay (USD Billion), 2018-2023
3. Global Steel Wire Rope Market Forecast: Breakup by Type of Lay (USD Billion), 2024-2032
4. Global Steel Wire Rope Historical Market: Breakup by Strand Pattern (USD Billion), 2018-2023
5. Global Steel Wire Rope Market Forecast: Breakup by Strand Pattern (USD Billion), 2024-2032
6. Global Steel Wire Rope Historical Market: Breakup by Steel Type (USD Billion), 2018-2023
7. Global Steel Wire Rope Market Forecast: Breakup by Steel Type (USD Billion), 2024-2032
8. Global Steel Wire Rope Historical Market: Breakup by Coating Type (USD Billion), 2018-2023
9. Global Steel Wire Rope Market Forecast: Breakup by Coating Type (USD Billion), 2024-2032
10. Global Steel Wire Rope Historical Market: Breakup by Application (USD Billion), 2018-2023
11. Global Steel Wire Rope Market Forecast: Breakup by Application (USD Billion), 2024-2032
12. Global Steel Wire Rope Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Steel Wire Rope Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Steel Wire Rope Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Steel Wire Rope Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Steel Wire Rope Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Steel Wire Rope Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Steel Wire Rope Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Steel Wire Rope Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Steel Wire Rope Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Steel Wire Rope Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Steel Wire Rope Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Steel Wire Rope Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Major Importing Countries by Volume (2020)
25. Major Exporting Countries by Volume (2020)
26. Major Importing Countries by Value (2020)
27. Major Exporting Countries by Value (2020)
28. Global Steel Wire Rope Market Structure
Key Questions Answered in the Report
In 2023, the market size attained a value of approximately USD 9038 million.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 10991 million by 2032.
The major market drivers are rising population, and the increasing demand from marine and fishery, industrial and crane, and mining industries.
Key trends of the market are favourable characteristics of steel wire rope like excellent resistance to impact, durability, high strength, abrasion, and corrosion resistance and growing disposable incomes.
The leading types of lay in the market are regular lay, lang lay, and alternate lay.
The leading coating types of steel wire rope in the market are vinyl, zinc, nylon, and PVC, among others.
The significant applications in the market are oil and gas, heavy machinery, mining, marine, general engineering, and construction, among others.
The major players in the global steel wire rope market are Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, Teufelberger Holding AG, Fasten Group, and Bekaert Group, among others.
Analyst Review
The global steel wire rope market is being driven by growing demand from marine and fishery. Aided by the technological advancements, the market is expected to witness a moderate growth in the forecast period of 2024-2032, growing at a CAGR of 3.40%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type of lay, the market is segmented into regular lay, lang lay, and alternate lay. By strand pattern, the industry is divided into single layer, filler wire, seals, warrington, and combination. On the basis of steel type, the market is bifurcated into stainless steel and galvanized steel. Based on coating type, the industry is segmented into vinyl, zinc, nylon, and PVC, among others. By application, the market is categorised into oil and gas, heavy machinery, mining, marine, general engineering, and construction, among others. The major regional markets for steel wire rope are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, Teufelberger Holding AG, Fasten Group, and Bekaert Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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